Azimuth Thrusters Market Size 2020: Global Application Analysis by Industry Share, Sales, Revenue, Types, Trends and Forecast Research 2026
The Azimuth Thruster is marine propellers placed in pods that can be rotated in any direction. These propellers eliminate the usage of the rudder as it can be rotated to any horizontal plane. This system is considered to have an angular measurement during the spherical coordinate system and sometimes placed vertical or horizontal angle azimuth in different vessel types.
The thruster rotates in 360 degrees in the vertical axis by providing more flexibility and optimal thrust when compared to fixed pitch thrusters. The two types of arrangements are Z-drive and L-drive. These provide the steering, propulsion, and proper thrust positioning for higher maneuverability. Thus, they are widely used in various applications, which include ship docking, ship escort, and dynamic positioning services. They also have the advantage of holding a combined engine system that is one of the factors responsible for facilitating the market.
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Rapid advancement in the propulsion mechanism system is influencing changes in the ship propulsion system. Thus, thrusters are widely used in marine propulsion and also in the dynamic positioning of vessels by focusing on environmental obstacles such as wind and waves.
The marine industry has been impacted by COVID-19. The reduction in demand has changed the dynamic of the global azimuth thruster industry. Due to lockdown, there was a huge impact on the marine industry, which resulted in a slowdown in production of this thruster. On the other hand, investments in the shipbuilding sector were declining due to coronavirus. The shipbuilding service provides different applications such as offshore service, maritime trade, maritime export, and others to naval ships.
List Of Key Companies Profiled:-
· ABB Marine (Switzerland)
· Brunvoll (Norway)
· Caterpillar Inc. (The U.S.)
· Hydromaster (Netherland)
· IHI Corporation (Japan)
· Jastram (Germany)
· Kawasaki (Japan)
· KONGSBERG (Norway)
· NGC (The U.S.)
· SCHOTTEL GROUP (Germany)
· Steerprop (Finland)
· Thrustmaster (The U.S.)
· Veth Propulsion (Netherland)
· Voith Turbo (Germany)
· Wartsila Corporation (Finland)
· Wuxi Ruifeng Marine (China)
· ZF Friedrichshafen AG (Germany)
The competitive landscape of the Azimuth Thrusters Market Analysis has been discussed in detail. The report highlights leading companies, their performance over the past few years, and their key strategies. The Azimuth Thrusters Industry report provides a comprehensive evaluation of several factors that have contributed to the growth of the market in recent years. In addition to the growth stimulators, the report also discusses the challenges facing the market. Furthermore, the report provides forecast values for the market for the period of 2020–2027. Additionally, it identifies areas that have witnessed the highest demand and applications for the product in recent years. Besides this, some of the leading products, major companies, and major recent industry developments have been highlighted in this report.
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Striking Technological Advancements to Open Multiple Growth Avenues:
The increasing adoption of Azimuth Thrusters Market Size for applications across diverse industries will aid the growth of the market in the upcoming years. Recent advances in structure and design have opened up a massive potential for rapid product adoption. The advances in engineering, in terms of product design and structure, will not only benefit the companies but will have a direct impact on the Azimuth Thrusters Manufacturers Share growth in the coming years. Moreover, rising investment in the research and development in different technologies will further favour the activities of the companies operating in this market.
Eruption of COVID-19 Pandemic to Stall Market Growth:
The growth of the Azimuth Thrusters Market Opportunity and Scope is expected to be negatively impacted by the COVID-19 pandemic. The declining market growth is primarily attributable to the travel restrictions imposed by governments worldwide to contain the spread of the virus. Apart from this, unprecedented economic downturn triggered by the coronavirus has forced countries, especially developing nations, to prioritize their spending, which in turn is likely to impede upcoming investments in this sector. Together, these factors will create unfavourable conditions for this market in the short-term.
Segmentation:
By Type:-
· Less than 1500KW
· 1500KW-3500KW
· More than 3500KW
By End-user:-
· OEM
· Aftermarket
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By Geography:-
· North America (The U.S., Canada, and Mexico)
· Europe (The U.K., Germany, France, Italy, Russia, and Rest of Europe)
· Asia-Pacific (China, India, Japan, South Korea, Southeast Asia, Australia and Rest of Asia- Pacific)
· South America (Brazil, Argentina, and Colombia)
· Middle East & Africa (The UAE, Saudi Arabia, Egypt, and South Africa)
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